OREANDA-NEWS. OJSC “Magnit”, Russia's largest food retailer (the “Company”; MICEX and LSE: MGNT) announces the opening of a new distribution center in Kolpino. Please be informed that the Company has opened a new distribution center (DC) in Kolpino (Saint Petersburg).

Total space of the warehouse is about 50,800 sq. m. Launch of the new distribution facility will improve the quality of service in the North-Western region. “Magnit” operates 25 distribution centers with their total capacity of about 758,270 sq. m.

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2014, Magnit operated 24 distribution centers and over 8,600 stores (7,614 convenience, 226 hypermarkets, and 778 cosmetics) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements for 2013, Magnit had revenues of USD 18,202 million USD and an EBITDA of USD 2,032 million USD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB. Measured by market capitalization, Magnit is one of the largest retailers in Europe.